TikTok said it does not collect precise GPS location information from users in the US, which means it cannot be used to monitor people “in the way [Forbes] suggested.” The app’s communications team has tweeted that in response to a Forbes article claiming that a China-based team from its parent company, ByteDance, had planned to… Continue reading TikTok denies that ByteDance planned to use the app to track individuals in the US
Category: Tech News
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GAC AION raises $2.5b to become China’s most valuable EV startupThe startup now commands a valuation of over $14.2b.
GAC AION, which is affiliated with the Chinese state-owned automaker Guangzhou Automobile Group (GAC), has pocketed 18.3 billion yuan ($2.5 billion) in a Series A round to become the most valuable startup in China’s electric vehicle (EV) industry. The five-year-old EV subsidiary reached a valuation of over 103.2 billion yuan ($14.2 billion) following the fundraising… Continue reading GAC AION raises $2.5b to become China’s most valuable EV startupThe startup now commands a valuation of over $14.2b.
Lightspeed leads $20m funding in GlobalFair and India deals worth $88m
Gurugram-based B2B building material supplier GlobalFair has raised $20 million in its Series A funding round led by Lightspeed Venture Partners, per an announcement. The financing also saw participation of Saama Capital, India Quotient, AUM Ventures, and Stride Ventures, the startup said in a statement. It will use the funds to grow its team, scale… Continue reading Lightspeed leads $20m funding in GlobalFair and India deals worth $88m
Instacart may put off IPO amid market uncertainty
Grocery delivery app Instacart is likely to postpone its plans to go public in 2022 amid market uncertainty that has left investors worried about growing volatility in capital markets, two sources familiar with the plan told Reuters. The tech IPO market globally is in the middle of its worst drought in nearly two decades. U.S.… Continue reading Instacart may put off IPO amid market uncertainty
Chinese pet lifestyle brand VETRESKA’s SG subsidiary raises $50m
The Singaporean subsidiary of VETRESKA, a Chinese pet lifestyle brand, has received a $50-million strategic investment from Quest FoF, the venture capital (VC) arm of a major pan-Asian agri-food conglomerate. The subsidiary, VETRESKA FUTURE PET FOOD, will use the funds in the production and processing of global food raw materials, advancing its supply-chain system, and… Continue reading Chinese pet lifestyle brand VETRESKA’s SG subsidiary raises $50m
GM’s community EV charging program has its first North American dealer
The first General Motors dealership in North America officially installed Level 2 EV chargers Thursday morning as part of GM’s Dealer Community Charging Program. General Motors revealed its Dealer Community Charging Program a year ago, with plans to install up to 40,000 Level 2 chargers across North America. The program is an extension of its… Continue reading GM’s community EV charging program has its first North American dealer
Indonesian solar startup Xurya raises $11.5m more in Series A fundingThe additional funding was in the form of equity and convertible note agreement
Xurya, a Jakarta-based startup that develops rooftop solar panels for businesses and industries in Indonesia, has announced raising additional Series A funding from Mitsui & Co and Surya Semesta Internusa (SSIA). According to ACRA filings accessed by DealStreetAsia – DATA VANTAGE, Xurya raised $6.5 million in additional equity funding and another $5 million in convertible… Continue reading Indonesian solar startup Xurya raises $11.5m more in Series A fundingThe additional funding was in the form of equity and convertible note agreement
China’s YMTC denies report it took part in meetings on US chip restrictionsExperts say the sanctions will pose a major hurdle for China’s domestic chi…
Chinese chip maker Yangtze Memory Technologies Co (YMTC) Ltd denied a media report that it had participated in emergency meetings convened by China’s industry ministry to discuss the impact of U.S. sanctions. The company in a statement late on Thursday described the report as “false and sinister,” adding that the report had damaged its corporate image and would have serious adverse effects on the semiconductor industry environment at… Continue reading China’s YMTC denies report it took part in meetings on US chip restrictionsExperts say the sanctions will pose a major hurdle for China’s domestic chi…
Singapore BNPL players launch code of conduct to protect consumers
The Singapore FinTech Association (SFA) and eight industry players have launched a code of conduct that outlines the best practices to protect consumers in the city-state against over-indebtedness. Among others, the code of conduct states that customers cannot have over S$2,000 in outstanding payments with a “buy now, pay later” (BNPL) provider, unless they pass… Continue reading Singapore BNPL players launch code of conduct to protect consumers
India: Walmart-backed PhonePe said to be in talks to raise funds at $12b valuation
Indian digital payments firm PhonePe is in talks to raise funds in a round led by General Atlantic at a valuation of $12 billion, financial news website Moneycontrol reported on Friday, citing people aware of the matter. U.S. private equity group General Atlantic is likely to lead the round with an investment of $450 million… Continue reading India: Walmart-backed PhonePe said to be in talks to raise funds at $12b valuation